June 1, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
Jul ‘16 413’6 +9’0 June ‘16 369’0 +12’0
Sep ‘16 415’0 +8’2 July ‘16 370’0 +11’0
Dec ‘16 416’2 +7’6 Aug ‘16 374’0 +8’0
Mar ‘17 423’0 +7’6 NC ‘16 368’0 +8’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
Jul ‘16 1099’6 +21’2 June ‘16 1024’0 +21’0
Aug ‘16 1095’4 +19’0 July ‘16 1024’0 +21’0
Sep ‘16 1079’0 +14’6      
Nov ‘16 1068’4 +12’6 NC ‘16 998’0 +10’0

 

Grain markets turned higher following weaker overnight markets.

July corn and soybean futures both set new highs for the move

Firming export values in SA, sending fresh business to the US supportive.

Also friendly, talk China is looking for US soybeans for July and August delivery.

Favorable ratings, weather & talk SA losses already factored in were initially bearish.

China’s PMI data showing stagnant growth, dousing ideas of a quick recovery is bearish.

PBOC also lowered the yuan to its lowest range since 2011 versus the US dollar.

April soybean crush out today @ 158.15 million bu. with the avg guess @ 156.8 mb vs 166.4 in Mar.

Reuters story says sizzling pork prices in China hitting record high as farmers rebuild herds.

Bloomberg story talks about Indian farmers on edge, waiting for monsoon rains following 2 droughts.

 

June 1, 2016